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Forensic Analysis · Healthcare Providers & Services · as of Nov 7, 2026

HCA Healthcare, Inc. (HCA)

A forensic read on HCA Healthcare, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder
Forensic grade
Clean
Earnings quality
1
Forensic signals
7.1%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

HCA Healthcare, Inc. earns an A (High-quality compounder) forensic quality grade. 1 forensic signal was flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

140% of FCF
FY2025
Shareholder returns. Returned $10.7B to shareholders (buybacks + dividends) in FY2025 — 140% of free cash flow, but 85% of operating cash flow. Returns run ahead of free cash flow, with the gap funded by debt or cash reserves rather than the cash the business itself throws off; the payout itself is still covered by operating cash. Counting the $401M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 145%.

Key fundamentals

Latest Revenue$75.60B
Revenue Growth YoY+7.1%
Revenue CAGR (2yr)+7.9%
Net Margin9.0%
Free Cash Flow$7.69B

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Data from SEC EDGAR public filings · metrics as of Nov 7, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.